Zooming Out: The Trade Effect of the Euro in Historical Perspective
@article{Berger2005ZoomingOT, title={Zooming Out: The Trade Effect of the Euro in Historical Perspective}, author={H. Berger and V. Nitsch}, journal={CESifo Working Paper Series}, year={2005} }
In this paper, we put the trade effect of the euro in historical perspective. Using a data set that includes 22 industrial countries from 1948 to 2003, we find strong evidence of a gradual increase in trade intensity between European countries over time. Once we control for this trend in trade integration, the euro's impact on trade disappears. Moreover, a significant part of the trend in European trade integration is associated with measurable policy changes in areas such as exchange rate… CONTINUE READING
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